189 Addresses Reach $1 Million Cap in PUMP Sale
- Arkham identifies 189 participating addresses hitting $1 million cap.
- $500 million raised globally, short of $600 million target.
- Funds primarily in USDC and USDT, affecting market liquidity.
Arkham Intelligence revealed that 189 addresses reached a $1 million cap during a recent PUMP public sale, raising $500 million globally.
The event emphasizes the significant involvement of whale investors, potentially impacting market dynamics and stablecoin flows.
The PUMP public sale attracted significant attention, with 189 addresses each reaching a $1 million cap, according to Arkham Intelligence. Totaling $500 million, the sale, however, fell short of its $600 million target.
“pump.fun has transferred funds to the Squads Vault ‘Token Admin’ address. Additionally, 185 addresses have contributed over $1 million, and 121 addresses have contributed $500,000 or more, with USDC making up 97% of the contributions and USDT approximately 3%.” – Ai Yi (@ai_9684xtpa), Crypto Analyst, Arkham Intelligence
High-profile investors and whales were notably involved. Ai Yi, a recognized crypto analyst, confirmed that a majority of funds were transferred in USDC and USDT. Pump.fun’s channels updated on delays in distribution.
Immediate impacts include shifts in market liquidity and volatility. Investors responded by opening short positions on HyperLiquid, anticipating price changes. Arkham’s data highlights substantial whale participation impacting stablecoins.
Broader implications include potential regulatory interest in large-scale crypto transactions. The sale’s execution method could lead to heightened scrutiny. Whale activity and liquidity movements may prompt market shifts post-distribution.
